Moody’s Investor Service, a leading provider of credit ratings, research and risk analysis, has predicted that the Philippines will grow faster in 2016. It cited the country’s vibrant domestically-focused growth, which puts it in a better position than some of its export-oriented neighbors.
“We expect 6% GDP growth in 2016, up from 5.8% in 2015,” said Moody’s Vice President and senior analyst Christian de Guzman in a report entitled “Philippines’ growth shows resistance to global slowdown.” He also cited that the increasing infrastructure projects and election spending will boost the domestic consumption as reason for optimism.
The country’s GDP growth increased to 6.3% in the 4th quarter from the revised 6.1% in the 3rd quarter of 2015 due mainly to robust domestic demand and better government spending.
Source: Rappler
